Euro Holdings, Pharmaniaga, Yinson, Dutch Lady, Cypark, CAB Cakaran, MSM and NPC Resources

Euro Holdings, Pharmaniaga, Yinson, Dutch Lady, Cypark, CAB Cakaran, MSM and NPC Resources
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KUALA LUMPUR (June 16): Based on corporate announcements and news flow today, companies in focus tomorrow (June 17) may include: Euro Holdings Bhd, Pharmaniaga Bhd, Yinson Holdings Bhd, Dutch Lady Milk Industries Bhd, Cypark Resources Bhd, CAB Cakaran Corp Bhd, MSM Malaysia Holdings Bhd and NPC Resources Bhd.

Euro Holdings Bhd said it was not aware of the reasons behind a sharp drop in the share price of the office furniture manufacturer and property developer even as the stock hit limit down for the second consecutive day today. The group deputy managing director Datuk Kenix Lim Sze Way told today that the company is "in the midst of finding out” the reasons behind the share price drop. Bursa Malaysia Securities Bhd has frozen the lower limit price for the stock at RM1.21.

Pharmaniaga Bhd is expected to complete its contractual obligation of supplying 12 million Sinovac Covid-19 vaccine doses to the Federal Government by next month, sufficient to cover some 18% of Malaysia’s population. The group managing director Datuk Zulkarnain Md Eusope said the vaccine had been approved by the World Health Organization (WHO) and the recognition is a boost of confidence in the battle against the pandemic.

Main Market-listed Yinson Holdings Bhd has invested in Singapore technology company Oyika Pte Ltd to accelerate electric vehicle (EV) adoption in Southeast Asia. Yinson chief strategy officer Daniel Bong said the energy infrastructure and technology company shares the same goal with Oyika, which is to develop a more environmentally sustainable transport network. The investment, made through Yinson’s Green Technologies Division, would enable local e-motorbike manufacturers to adopt Oyika’s brand-agnostic technology.

Dutch Lady Milk Industries Bhd (DLMI) has announced the appointment of Ramjeet Kaur Virik as its managing director effective July 2. She will succeed Tarang Gupta, who will be appointed managing director for Alaska Milk Corp in the Philippines, which like DLMI is a subsidiary of Dutch multinational Royal FrieslandCampina NV.

Cypark Resources Bhd has proposed to undertake a private placement of up to 105 million new ordinary shares, representing up to 20% of the total number of issued share in the company to further expand the company’s competitive advantage and increase its foothold as a contributor to the Government's initiatives to increase renewable energy (RE) production. Based on the illustrative issue price of RM1.03 per placement share, the proposed private placement is expected to raise gross proceeds of up to RM108.15 million.

Integrated poultry producer CAB Cakaran Corp Bhd said today it has suspended operations at one of its wholly-owned subsidiary's factories after 162 Covid-19 infections were found among its workers. It said the Covid-19-positive cases were confirmed between June 10 and June 11. Subsequently, the affected factory received a notice from the Ministry of Health, with instructions to suspend its operations from June 11 until further notice.

MSM Malaysia Holdings Bhd said it has received the nod from the Ministry of Health to resume its Penang operations yesterday (June 15) after a temporary shutdown from June 8 due to Covid-19 cases recorded on-site. The suspension involving its unit MSM Prai Bhd was lifted two days early from the initial date of June 17, MSM said.

NPC Resources Bhd said it faces a suspension of the trading of its shares on Bursa Malaysia with effect from June 23 if it is unable to submit its 2020 annual report by June 22. The Sabah-based oil palm plantation company had failed to issue the annual report by the extended deadline of June 15.

S Kanagaraju